Google have announced that they will have a new company called Alphabet. All 'Google' companies will now report under the new umbrella..

Why? Based on the recent failures of Google+ and Google Glass it appears the new structure will mitigate future failures affecting the brand name.

Search, ads, maps, apps, YouTube and Android will remain as part of Google.

Stock up 5.5% so far!

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Our company is operating well today, but we think we can make it cleaner and more accountable. So we are creating a new company, called Alphabet (http://abc.xyz). I am really excited to be running Alphabet as CEO with help from my capable partner, Sergey, as President.
What is Alphabet? Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main Internet products contained in Alphabet instead.